1887
Volume 31, Issue 1
  • ISSN 1461-0213
  • E-ISSN: 1570-5595

Abstract

Abstract

Wider parts of society-at-large are not fluent in the language of numbers, and financial literacy in particular is low in many countries (OECD, 2014). This paper shows how research on financial communication with and for practitioners (Cameron, Frazer, Rampton, & Richardson, 1992, p. 22) can foster intra-lingual translation in the financial sector, which increases financial texts’ communicative potential and finally enables laypersons to better understand the language of numbers. Such an increased understanding allows individuals to set up investment plans for their current and future wealth and, for example, make informed decisions about their pension plans. By doing so, financial crises on the individual, organizational, and societal level can be avoided, which benefits social welfare and society-at-large.

Transdisciplinary Action Research (TDA) offers a framework and procedures to approach such goals through close collaboration of scholars and practitioners throughout research projects. Following TDA core concepts, a cyclic process of research and development has been established in the last two decades (e.g. Perrin, this volume; Whitehouse, 2014). Whereas applied linguists involved aimed at better understanding practices of writing and intra-lingual translation at the interface of technical and everyday language, stakeholders from the financial industry wanted to improve their communication. The representatives of society-at-large, finally, were interested in contributing to sustainably increasing financial literacy.

In the first part of the present paper, I sketch the suitability of transdisciplinarity in general and TDA in particular in financial communication (Section 1). Then I define the key concepts of intra-lingual translation, communicative potential, and financial literacy (Section 2). Next, I outline the data corpus and explain how TDA was applied in a series of research projects (Section 3). The presented results on a macro-level shed light on the financial analysts’ situation and practices in their multilingual workplace: the findings on the micro-level suggest that financial analysts’ texts pose a risk of partial communicative failure (Section 4). The article concludes by indicating empirically based measures to develop financial literacy, intra-lingual translation across stakeholders and texts’ communicative potential in finance (Section 5).

This work is licensed under a license.
Loading

Article metrics loading...

/content/journals/10.1075/aila.00014.whi
2019-03-12
2019-06-20
Loading full text...

Full text loading...

/deliver/fulltext/aila.00014.whi.html?itemId=/content/journals/10.1075/aila.00014.whi&mimeType=html&fmt=ahah

References

  1. Agar, M.
    (1986) Speaking of ethnography. Newbury Park, CA: Sage. 10.4135/9781412985895
    https://doi.org/10.4135/9781412985895 [Google Scholar]
  2. Antos, G., Hasler, U., & Perrin, D.
    (2011) Textoptimierung. InS. Habscheid (Ed.), Textsorten und sprachliche Handlungsmuster. Linguistische Typologien der Kommunikation (pp.638–658). Berlin et al.: De Gruyter. 10.1515/9783110229301.638
    https://doi.org/10.1515/9783110229301.638 [Google Scholar]
  3. Aprea, C., Wuttke, E., Breuer, K., Keng Koh, N., Davies, P., Greimel-Fuhrmann, B., & Lopus, J. S.
    (Eds.) (2016) International Handbook of Financial Literacy. Singapore: Springer. 10.1007/978‑981‑10‑0360‑8
    https://doi.org/10.1007/978-981-10-0360-8 [Google Scholar]
  4. Bazerman, C.
    (1994) Systems of genres and the enactment of social intentions. InA. Freedman & P. Medway (Eds.), Genre and the new rhetoric (pp.79–101). London: Taylor & Francis.
    [Google Scholar]
  5. Bazerman, C., & Devitt, A.
    (2014) Introduction. Genre perspectives in text production research. InE.-M. Jakobs & D. Perrin (Eds.), Handbook of writing and text production (Vol.10, pp.257–261). New York et al.: De Gruyter. 10.1515/9783110220674.257
    https://doi.org/10.1515/9783110220674.257 [Google Scholar]
  6. Berman, K., & Knight, J.
    (2009) Are your people financially literate?Harvard Business Review (October 2009), 28–29.
    [Google Scholar]
  7. Bhagat, R. S., & Steers, R. M.
    (Eds.) (2009) Cambridge Handbook of Culture, Organizations, and Work. New York: Cambridge University Press. 10.1017/CBO9780511581151
    https://doi.org/10.1017/CBO9780511581151 [Google Scholar]
  8. Bourdieu, P.
    (1977) Outline of a theory of practice. New York: Cambridge University Press. 10.1017/CBO9780511812507
    https://doi.org/10.1017/CBO9780511812507 [Google Scholar]
  9. Brun, G., & Hirsch Hadorn, G.
    (2009) Textanalyse in den Wissenschaften. Inhalte und Argumente analysieren und verstehen. Zürich.
    [Google Scholar]
  10. Bucher, S.
    (2014) Was steckt hinter den Empfehlungen des Researchs der Zürcher Kantonalbank?Dokumentation des Aktienresearchs der Zürcher Kantonalbank.
    [Google Scholar]
  11. Cameron, D., Frazer, E., Rampton, B., & Richardson, K.
    (1992) Researching language. Issues of power and method. London: Routledge.
    [Google Scholar]
  12. Carter, B., & Sealey, A.
    (2004) Applied linguistics as social science. London: Continuum.
    [Google Scholar]
  13. (2009) Reflexivity, realism and the process of casing. InD. Byrne & C. C. Ragin (Eds.), The SAGE handbook of case-based methods (pp.69–83). London: Sage. 10.4135/9781446249413.n4
    https://doi.org/10.4135/9781446249413.n4 [Google Scholar]
  14. Cheng, W., & Ho, J.
    (2015) A Corpus Study of Bank Financial Analyst Reports. International Journal of Business Communication. doi:  10.1177/2329488415572790
    https://doi.org/10.1177/2329488415572790 [Google Scholar]
  15. Crawford Camiciottoli, B.
    (2018) Persuasion in earnings calls: A diachronic pragmalinguistic analysis. InPalmieri Rudi, D. Perrin, & M. Whitehouse (Eds.), International Journal of Business Communication (Vol. Special Issue, PartII. July 2018): SAGE. 10.1177/2329488417735644
    https://doi.org/10.1177/2329488417735644 [Google Scholar]
  16. Denzin, N. K.
    (2012) Triangulation 2.0. Journal of Mixed Methods Research, 6 (2), 80–88. 10.1177/1558689812437186
    https://doi.org/10.1177/1558689812437186 [Google Scholar]
  17. Do Carmo Leite de Oliveira, M., & Rodrigues Pereira, S.
    (2018) Formulations in delicate actions: a study of analyst questions in earnings conference calls. InP. C. Palmieri Rudi, D. Perrin, & M. Whitehouse (Eds.), International Journal of Business Communication (Vol. Special Issue, PartII. July 2018): SAGE.
    [Google Scholar]
  18. Drinkmann, A., & Groeben, N.
    (1989) Metaanalysen für Textwirkungsforschung. Methodologische Varianten und inhaltliche Ergebnisse im Bereich der Persuasionswirkung von Texten. Weinheim: Deutscher Studien Verlag.
    [Google Scholar]
  19. English, S., & Hammond, S.
    (2016) The cost of compliance 2016. Retrieved fromhttps://risk.thomsonreuters.com/content/dam/openweb/documents/pdf/risk/report/cost-compliance-2016.pdfonMarch30 2018.
  20. Floros, G.
    (2001) Zur Repräsentation von Kultur in Texten. InG. Thome, C. Giehl & H. Gerzymisch-Arbogast (Eds.), Kultur und Übersetzung. Methodologische Probleme des Kulturtransfers (Vol.2, pp.75–94). Tübingen: Gunter Narr Verlag.
    [Google Scholar]
  21. Goodhart, C.
    (2010) How should we regulate the financial sector?InA. e. a. Turner (Ed.), The future of finance: the LSE report. London: London School of Economics and Political Science.
  22. Grésillon, A., & Perrin, D.
    (2014) Methodology. From speaking about writing to tracking text production. InD. Perrin & E.-M. Jakobs (Eds.), Handbook of writing and text production (Vol.10, pp.79–111). New York et al: De Gruyter. 10.1515/9783110220674.79
    https://doi.org/10.1515/9783110220674.79 [Google Scholar]
  23. Guiso, L., & Viviano, E.
    (2013) How Much Can Financial Literacy Help?Review of finance, 19(4), 1347–1382. 10.1093/rof/rfu033
    https://doi.org/10.1093/rof/rfu033 [Google Scholar]
  24. Hanks, W.
    (1996) Language and communicative practices. Boulder: Westview.
    [Google Scholar]
  25. Heffes, E. M.
    (2011) The next 80 years. Financial Executive, 27(10), 17.
    [Google Scholar]
  26. Heri, E.
    (2014) « Wir möchten, dass die Leute ‘Finanzesisch’ verstehen ». Retrieved fromwww.finews.ch
  27. Hill-Madsen, A.
    (2014) Derivation and Transformation: Strategies in Lay-oriented Intralingual Translation. (PhD), Business and Social Sciences, Aarhus University, Aarhus.
    [Google Scholar]
  28. Hodge, R., & Kress, G.
    (1988) Social Semiotics. New York: Cornell.
    [Google Scholar]
  29. Hoffmann, L.
    (2001) Pragmatische Textanalyse. InD. Möhn, D. Ross & M. Tjarks-Sobhani (Eds.), Mediensprache und Medienlinguistik (pp.283–310). Frankfurt: Lang.
    [Google Scholar]
  30. Hogan-Brun, G.
    (2016) Linguanomics. What is the market potential of multilingualism?London, New York: Bloomsbury.
    [Google Scholar]
  31. Jakobs, E.-M.
    (2005) Writing at Work. Fragen, Methoden und Perspektiven einer Forschungsrichtung (= Questions, methods, and perspectives of a research trend). InE.-M. Jakobs, K. Lehnen & K. Schindler (Eds.), Schreiben am Arbeitsplatz (= Writing at Work) (pp.13–42). Wiesbaden: VS Verlag für Sozialwissenschaften. 10.1007/978‑3‑322‑80777‑9_2
    https://doi.org/10.1007/978-3-322-80777-9_2 [Google Scholar]
  32. (2006) Texte im Berufsalltag. Schreiben, um verstanden zu werden?InH. Blühdorn, E. Breindl & U. H. Wassner (Eds.), Text – Verstehen. Grammatik und darüber hinaus (Jahrbuch des Instituts für Deutsche Sprache 2005) (pp.315–331). Berlin/ New York: de Gruyter.
    [Google Scholar]
  33. Jakobs, E.-M., & Perrin, D.
    (2013) Introduction and research roadmap: Writing and text production. InE.-M. Jakobs & D. Perrin (Eds.), Handbook of Writing and Text Production. Berlin, Boston: De Gruyter.
    [Google Scholar]
  34. Jones, D., & Stubbe, M.
    (2004) Communication and the reflective practitioner. A shared perspective from sociolinguistics and organisational communication. International Journal of Applied Linguistics, 14(2), 185–211. 10.1111/j.1473‑4192.2004.00059.x
    https://doi.org/10.1111/j.1473-4192.2004.00059.x [Google Scholar]
  35. Jorns, C. E.
    (2009) Market expectations and analysts forecasts. A quantitative investigation on the characteristics and interactions of analyst earnings estimates. Aachen: Shaker Verlag.
    [Google Scholar]
  36. Keating, E.
    (2001) The ethnography of communication. InP. Atkinson, A. Coffey, S. Delamont, J. Lofland & L. Lofland (Eds.), Handbook of ethnography (pp.285–301). London: Sage. 10.4135/9781848608337.n20
    https://doi.org/10.4135/9781848608337.n20 [Google Scholar]
  37. Kingsley, L.
    (2009) Explicit and implicit dimensions of language policy in multilingual banks in Luxembourg: An analysis of top-down and bottom-up pressures on practices. Language Problems and Language Planning, 33(2), 153–173. 10.1075/lplp.33.2.04kin
    https://doi.org/10.1075/lplp.33.2.04kin [Google Scholar]
  38. Koller, W.
    (2011) Einführung in die Übersetzungswissenschaft (8 ed.). Tübingen: Francke.
    [Google Scholar]
  39. Krische, S. D.
    (2014) Who is the Average Individual Investor? Numerical Skills and Implications for Accounting Research. Kogod School of Business, American University. Washington D.C.. 10.2139/ssrn.2426570
    https://doi.org/10.2139/ssrn.2426570 [Google Scholar]
  40. Kuperman, J. C., Athavale, M., & Eisner, A.
    (2003) Financial analysts in the media: evolving roles and recent trends. American Business Review, 21(2), 74.
    [Google Scholar]
  41. Langer, I., Schulz von Thun, F., & Tausch, R.
    (2011) Sich verständlich ausdrücken (9 ed.Vol.). München: Reinhardt.
    [Google Scholar]
  42. Larsen-Freeman, D., & Cameron, L.
    (2008) Complex systems and applied linguistics (2 ed.). Oxford: Oxford University Press.
    [Google Scholar]
  43. Loughran, T., & McDonald, B.
    (2015) The Use of Word Lists in Textual Analysis. Journal of Behavioral Finance, 16(1), 1–11. doi:  10.1080/15427560.2015.1000335
    https://doi.org/10.1080/15427560.2015.1000335 [Google Scholar]
  44. Lusardi, A., & Mitchell, O. S.
    (2011) Financial literacy around the world: an overview. Cambridge. 10.3386/w17107
    https://doi.org/10.3386/w17107 [Google Scholar]
  45. Maddieson, I.
    (2005) Locus of Marking: Whole-Language Typology. InM. e. a. Haspelmath (Ed.), The World Atlas of Language Structures (pp.106–109). Oxford: Oxford University Press.
    [Google Scholar]
  46. Nell, L., Lentz, L., & Pander Maat, H.
    (2018) The role of prior knowledge, language skill and text presentation in finding information in financial documents. InPalmieri Rudi, D. Perrin, & M. Whitehouse (Eds.), International Journal of Business Communication (Vol. Special Issue, PartI. March 2018): SAGE.
    [Google Scholar]
  47. OECD
    OECD (2014) PISA 2012 results: students and money. Financial literacy skills for the 21st century (Vol.VI): PISA.
    [Google Scholar]
  48. Palmieri, R., Perrin, D., & Whitehouse, M.
    (Eds.) (2018a) The Pragmatics of Financial Communication. Part 1: From Sources to the Public Sphere (Vol.55/2): Sage.
  49. Pawson, R., & Tilley, N.
    (1997) Realistic evaluation. London: Sage.
    [Google Scholar]
  50. Pennycook, A.
    (2010) Language as a local practice. Londo: Routledge. 10.4324/9780203846223
    https://doi.org/10.4324/9780203846223 [Google Scholar]
  51. Perrin, D.
    (2013) The linguistics of newswriting. Amsterdam et al.: John Benjamins. 10.1075/aals.11
    https://doi.org/10.1075/aals.11 [Google Scholar]
  52. Perrin, D. & Whitehouse, M.
    (2015) Comprehensibility and comprehensiveness of financial analysts’ reports. InA. Rocci, R. Palmieri & L. Gautier (Eds.), Text and discourse analysis in financial communication. Thematic issue of Studies in Communication Sciences (pp.111–119).
    [Google Scholar]
  53. Perrin, D.
    (2016) Vom vielschichtigen Planen. Textproduktions-Praxis empirisch erforscht. InA. Deppermann, H. Feilke & A. Linke (Eds.), Praktiken. Sprache, Kommunikation, Kultur (Vol. 2015, pp.431–455). Berlin et al.: De Gruyter. 10.1515/9783110451542‑017
    https://doi.org/10.1515/9783110451542-017 [Google Scholar]
  54. Perrin, D., Ehrensperger-Dow, M., & Zampa, M.
    (2017) Multilingualism and Media. InD. Perrin & C. Cotter (Eds.), Handbook of Language and Media. London: Routledge.
    [Google Scholar]
  55. Pike, K. L.
    (1954) Language in relation to a unified theory of the structure of human behavior. Glendale: Summer Institute of Linguistics.
    [Google Scholar]
  56. Pym, A.
    (2008) Translation vs. Language Learning in International Institutions. Explaining the Diversity Paradox. Cultus1, 70–83.
    [Google Scholar]
  57. Reckinger, G., & Wolff, V.
    (Eds.) (2011) Finanzjournalismus (= Financial journalism) (Vol.3). Konstanz: UVK-Verlag.
    [Google Scholar]
  58. Rolke, L., & Wolff, V.
    (2000a) Finanzkommunikation zwischen Fakten und Phantasie. InL. Rolke & V. Wolff (Eds.), Finanzkommunikation. Kurspflege durch Meinungspflege. Die neuen Spielregeln am Aktienmarkt (= Financial communication. Price fosterage by meaning fosterage. The new rules on the stock market) (pp.232–247). Frankfurt am Main: F.A.Z.-Institut für Management- und Medieninformation.
    [Google Scholar]
  59. (2000b) Kurspflege durch Meinungspflege – Das Geschäft mit dem Vertrauen (= Price fosterage by meaning fosterage – the business with trust). InL. Rolke & V. Wolff (Eds.), Finanzkommunikation. Kurspflege durch Meinungspflege. Die neuen Spielregeln am Aktienmarkt (= Financial communication. Price fosterage by meaning fosterage. The new rules on the stock market) (pp.10–18). Frankfurt am Main: F.A.Z.-Institut für Management- und Medieninformation.
    [Google Scholar]
  60. Romero-Trillo, J.
    (2012) Pragmatic Markers. Encyclopedia of applied linguistics (pp.4522–4528). Oxford: Blackwell-Wiley. 10.1002/9781405198431.wbeal0929
    https://doi.org/10.1002/9781405198431.wbeal0929 [Google Scholar]
  61. Schaffner, A.
    (2017) Working as a financial journalist/Interviewer: M. Whitehouse.
    [Google Scholar]
  62. Schneider, W.
    (2011) Deutsch! Das Handbuch für attraktive Texte (4 ed.). Reinbek bei Hamburg: Rowohlt Verlag.
    [Google Scholar]
  63. Sealey, A., & Carter, B.
    (2009) Reflexivity, realism and the process of casing. InD. Byrne & C. C. Ragin (Eds.), The SAGE handbook of case-based methods (pp.69–83). London: Sage.
    [Google Scholar]
  64. Seibel, K.
    (2013) Das Ende jeglicher Entgeltsimulation. Die Welt. Retrieved fromwww.welt.de/finanzen/verbraucher/article119637703/Das-Ende-jeglicher-Entgeltsimulation.htmlwebsite: www.welt.de/119637703
    [Google Scholar]
  65. Seidensticker, E.
    (1989) On trying to translate Japanese. InJ. Biguenet & R. Schulte (Eds.), The craft of translation (pp.142–153). Chicago, London: The University of Chicago Press.
    [Google Scholar]
  66. Simonnaes, I.
    (2001) Interkulturelle Kommunikation und Übersetzungsprobleme. InG. Thome, C. Giehl & H. Gerzymisch-Arbogast (Eds.), Kultur und Übersetzung. Methodologische Probleme des Kulturtransfers (Vol.2, pp.283–298). Tübingen: Gunter Narr Verlag.
    [Google Scholar]
  67. Tetlock, P. C.
    (2007) Giving content to investor sentiment: The role of media in the stock market. Journal of Finance, 62(3), 1139–1168. doi:  10.1111/j.1540‑6261.2007.01232.x
    https://doi.org/10.1111/j.1540-6261.2007.01232.x [Google Scholar]
  68. Varela, F. J., Thompson, E., & Rosch, E. H.
    (1991) The embodied mind. Cognitive science and human experience. Cambridge: MIT Press.
    [Google Scholar]
  69. Venuti, L.
    (2013) Translation Changes Everything: Theory and Practice. New York: Routledge.
    [Google Scholar]
  70. Volkart, R., Wagner, A., & Lautenschlager, P.
    (2014) Corporate Finance : Grundlagen von Finanzierung und Investition (6 ed.). Zürich: Versus.
    [Google Scholar]
  71. Weber, C.
    (2013) Leserbefragung « Anlagebarometer » und « Anlagen Aktuell ». Zürcher Kantonalbank, Zürich.
    [Google Scholar]
  72. Wenger, E.
    (1998) Communities of practice. Learning, meaning, and identity. Cambridge: Cambridge University Press. 10.1017/CBO9780511803932
    https://doi.org/10.1017/CBO9780511803932 [Google Scholar]
  73. White, L. J., Maylath, B., Adams, A., & Couzijn, M.
    (Eds.) (2000) Language awareness. A history and implementations. Amsterdam: Amsterdam University Press. 10.5117/9789053564622
    https://doi.org/10.5117/9789053564622 [Google Scholar]
  74. Whitehouse, M.
    (2014) Transdisciplinary Action research in financial analysis. Collaboration of practitioners and scholars with focus on writing. PartIII: 2012–2014. School of Applied Linguistics. Zurich University of Applied Sciences. Unpublished Work.
  75. (2017) Financial analysts and their role in financial communication and investor relations. InA. V. Laskin (Ed.), Handbook of Financial Communication and Investor Relations. New York: Wiley. 10.1002/9781119240822.ch10
    https://doi.org/10.1002/9781119240822.ch10 [Google Scholar]
  76. (2019) Schreiben in der Finanzwelt. Wiesbaden: VS Springer.
    [Google Scholar]
  77. Whitehouse, M., Palmieri, R., & Perrin, D.
    (Eds.) (2018) The pragmatics of financial communication. Part2: From Public Sphere to Investors (Vol.55/3): Sage.
    [Google Scholar]
  78. Yanaprasart, P.
    (2016) Managing language diversity in the workplace: between ‘one language fits all’ and ‘multilingual model in action’. Universal Journal of Management, 4(3), 91–107.
    [Google Scholar]
  79. Zethsen, K. K.
    (2009) Intralingual translation: An attempt at description. Meta: journal des traducteurs / Meta: Translators’ Journal, 54(4), 795–812. 10.7202/038904ar
    https://doi.org/10.7202/038904ar [Google Scholar]
  80. Zuckermann, G. A.
    (2009) Hybridity versus Revivability: Multiple Causation, Forms and Patterns. Journal of Language Contact, Varia2, 40–67. 10.1163/000000009792497788
    https://doi.org/10.1163/000000009792497788 [Google Scholar]
http://instance.metastore.ingenta.com/content/journals/10.1075/aila.00014.whi
Loading
/content/journals/10.1075/aila.00014.whi
Loading

Data & Media loading...

This is a required field
Please enter a valid email address
Approval was successful
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error